Want to start a business that has the potential to make you rich?
You might be looking for an exciting business with lots of thrills and adventure, but the truth is, many profitable businesses do not appear exciting.
In fact, most of the businesses that can generate huge income today are so boring and repetitive that they become underrated.
You can go all stealth mode and start a boring business that will consistently put money in your bank account without making any noise.
But you have to be ready to stay put when the going gets a bit tough and frustrating.
This article was inspired by a Twitter thread by Codie Sanchez which had a lot of reasonable responses from entrepreneurs and hustlers.
So, here are some boring and underrated businesses to try out if you want.
Ebook Publishing
Most people hate to write.
But writing is a critical skill, and can be translated into a profitable publishing business that makes good money.
ebook publishing is one of the most underrated businesses not only because it is difficult to start, it requires consistency to become profitable.
In fact ebook publishing has been termed the business of nerds.
Most people do not want to sit down for an hour or two to elaborate and write out their ideas into ebooks that are publish-worthy.
It’s quite boring to be honest, but maybe the thought of making money could be a source of motivation.
Freelance Agency
A freelance agency is a highly technical business that can be very boring but with potential for huge monetary returns.
To run a freelance agency, you’ll need some technical skills, management skills, and an ability to multitask.
There’s little or no fun in all of this, and that is why many people shy away from it.
A freelance agency involves spotting and managing technical talents to deliver services on-demand, and can involve a very repetitive process.
If you can weather the storm of keeping things and people together to deliver value, you’ll definitely make a lot of money.
Private Lending
Managing money is a skill that only a few people can boast of.
That is why businesses that require money management have a lot of structures to help people stay in line and keep money safe.
Private lending is a business that will demand a lot of personal structure and restraint if you want to survive and become profitable.
With private lending, you have to know the numbers, keep your funds liquid and safe, and find ways to boost your funds.
It involves a whole lot of boring processes that will require discipline in the face of many temptations to blow money.
With every expenditure in this business required to bring back some return, you’ll always find yourself crunching numbers on your calculator rather than enjoying the proceeds of your profit.
But still, this is a highly profitable business that only a few know of or even have the discipline to start.
Car Wash
One of the most boring businesses you can start but definitely a money spinner if you find a good location.
Car wash in Nigeria charges an average of 2k per vehicle, and can serve more than 20 cars per day.
All that is needed is a water hose, liquid soap, and manpower.
For many people, this boring business could be the perfect passive income enterprise or side business to supplement their monthly income.
Commercial Security Service
In a country like Nigeria, security is a big deal.
Like many other amenities, people pay for their security, and they pay good money for it.
The only thing is, owning a commercial security service can be somewhat boring.
Who wouldn’t be bored trying to manage a bunch of machos putting on intimidating outfits?
However, the money could be a good motivator if you can manage the close regulative scrutiny and the industry partnerships required to get security contracts.
With businesses, communities, and influential people ready to pay big money for security services, this could be one of the most underrated businesses to start this year.
Haulage Fleet
Haulage is an evergreen business and a money spinner too.
There is no gainsaying that goods must find their way to the hands of consumers and products must be distributed.
A haulage business even though capital intensive is one of the most underrated businesses anyone can start.
It is also quite misunderstood because haulage is not as simple as moving goods from point A to point B.
The operational intricacies of haulage business and the peculiarity of the Nigeria road network, means that only a savvy few get to make money in this industry.
For those willing to take a dive, you’ll have to go through a learning curve and have the required capital to make a successful dent in this business.
Nightclub Franchise
One would wonder what is boring about a nightclub business.
But all that glimmers isn’t fun, as the underlying work needed to keep the music going in a nightclub can be boring for many people.
The location has to be right, the security has to be tight, and the smoke has to be very well alright.
Regardless, a nightclub Franchise seems to be well underrated even though it has the potential to make you rich.
Luckily, for savvy entrepreneurs who know the ins and outs of nightclub business, the only requirement is a carefully curated investment in loud music, expensive drinks, and hype.
What other better ways to print money?
Water Packaging
Water seems to be free.
A whopping 71 percent of the earth is filled with water.
You could literally drill a hole in your backyard and get water free for life.
However, it seems that people always want to pay for water. Pure, tasteless, odorless, and erm, packaged.
So, what did smart entrepreneurs do?
They found a way to package water so that the people who want to pay for it can be justified, even if the quality of the packaged water might not be so different from what is obtainable from a backyard well.
But packaging water can be very boring. That is why everyone is not in the business even though it doesn’t take a lot to know that selling packaged water is a money spinner.
In my opinion, selling packaged water is similar to selling packaged air. You’re literally printing money out of thin air (pun intended).
And the good news is that people are ready to hand over their money with a smile.